“Retirement Planning”

Thinking about taking the first steps onto the retirement ladder, I googled “Retirement Planning”, as any worldwide web wise pensioner would do these days.    And guess what?  All the top web links on Google are about money.    Pensions, annuities, savings and investments.    The advertising is all about financial planning, equity release and writing a will.

That tells you a lot about the immediate worries people have on reaching retirement.   It also reflects the limited horizons and lack of vision people have in relation to their lives after their working life is over.   Few people look beyond working when they are still at work.

At the bottom of the Google list, I found “The Retirement Planning Council”.    Somewhat surprisingly I had not heard of it – then I noticed it was in Ireland.   It is run by a charity and led by Chief Executive John Higgins who doesn’t look a bit like a World Champion Snooker player.   They run courses all over Ireland aimed at helping people plan a happy retirement.

They conducted a survey of over 1,000 people who had attended one of their courses.  Here are some of the interesting results:-

  • 81% were planning to retire soon
  • Most people were aged between 58 – 65
  • 80% were married
  • Only 29% were worried about their financial future
  • 86% expressed lack of trust in financial advisors
  • 53% do not engage in financial planning
  • 38% intended to continue working beyond 65 – mostly part-time

In terms of active retirement:-

  • 69% hoped to live out former dreams
  • 74% saw retirement as a new life chapter
  • 38% wanted to travel
  • 13% wanted more time for hobbies
  • Only 3% wanted to pursue education courses
  • 59% were involved with clubs and organisations – golf, community groups and health clubs were the most popular

In health terms:-

  • Just 16% expressed concern about future health
  • 81% describe themselves as computer literate
  • 86% have computer at home
  • 90% are uninterested in social networking
  • 79% were willing to be volunteers, mainly locally with community groups, churches and charities

In terms of wealth:-

  • 35% have not completed a will
  • 76% have not thought about enduring power of attorney.

Time to start planning for the next period of your life.

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2 Responses to “Retirement Planning”

  1. Excellent??? Even with all that ‘Blarney’ the Irish can realise the future: I trust with humour and good tidings for their fellow man, who may wish to travel the same road, and tread the same boards! After all it is not an act it is life as we all come to know it??

  2. Selena says:

    Hello There,
    I really enjoy your web page on Retirement Planning CARTOON | GrumbleSmiles and of course will be back again.
    Thank you!!

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